Competency: Inventory Management
Bad inventory decisions can kill an organization's profitability, whittle away at its market share, and generally wreak havoc on the supply chain... Are you guilty of making those bad decisions?
If you're basing your inventory decisions on guesses or informally-learned tactics rather than basing them on time-tested best practices, you are probably setting yourself up for failure. But it doesn't take decades of experience or years of training to learn what you need to know to make the inventory decisions that will maximize your organization's success. Our highly personal and interactive online class "Profitable Inventory Management and Control" will give you the skills you need to use inventory as a strategic weapon for boosting profitability and giving your organization a competitive advantage. You'll become an inventory management and control expert, you'll have fun doing so, and your organization's financial and operational performance will improve as you implement the easy-to-apply best practices taught in this course.
You will learn:
- All of the fundamentals of inventory management and control
- The 6 big inventory risks and how to mitigate them
- How to forecast more accurately whether your business is stable, growing, declining, or subject to seasonality
- How to set up the inventory replenishment cycle, including setting safety stock levels, reorder points, and economic order quantities (EOQ)
- How to measure inventory management performance using metrics such as inventory turnover, fill rate, and various financial ratios
- How to integrate desired service levels into inventory management and control decisions
- How to conduct inventory analysis, including applying ABC Analysis/Stratification
- How to reduce inventory
- How to calculate cost savings related to inventory management and control decisions
- How to evaluate the effect of lead time, including transportation considerations, on inventory
- What postponement is and how you might apply it for reducing inventory and waste
- What inventory optimization really is and how you can harness it through technology
How this online course works
- You can start this on-demand course any time after you enroll; there's no pre-scheduled start date!
- You progress through the course at your own pace, accessing easy-to-understand reading material, exciting exercises, optional multimedia, quizzes, and even a fun mid-term game!
- You will have access to a friendly, expert instructor for any questions you may have!
- You will learn best practices and processes designed so that you can apply your new skills in the real world!
To learn more about how full-length online procurement courses|
from the Next Level Purchasing Association work, click on the short video below.
What are others saying about this course?
|"Taking Profitable Inventory Management and Control with the NLPA has helped my company for the first time to commence prioritized purchasing and we have been able to save over one million Naira within six months.
This course made me more profitable to my company!"
Ngwaba Loveth C.
Rivers State, Nigeria
Ready to enroll?
but have a few questions?
If you enroll in "Profitable Inventory Management and Control" on or before January 31, 2015, you will receive all of these bonuses:
- FREE printer-friendly, PDF version of the class material
- FREE Purchasing Performance Measurement spreadsheet template
|For immediate assistance, call our office at |
+1 (412) 294-1990 and speak with a member of the NLPA Team, Monday through Friday from 8AM to 5PM Eastern US Time.
|Click on the button below to submit your questions electronically and a member of the NLPA team will contact you within one business day.